China Boosts Low-Tariff Corn Imports as State Reserves Drop (1)

China, the world’s second-largest corn consumer, has increased issuance of low-tariff corn import quotas, according to people familiar with the situation.

The government issued an additional 1.5 million tons of tariff-rate-quotas, or TRQs, to state-owned companies recently, said the people, who asked not to be identified as the matter is private. That brings the total for this year to about 6.3 million tons, with most coming from the U.S. and Ukraine, the people said.

China has been under pressure to meet its World Trade Organization commitments to import 7.2 million tons a year under preferential tariff rates. The country last ...